Technology
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Updated June 8, 2001 4:57 p.m. ET

Vitaminic to Buy Peoplesound.com

Italian digital-music provider Vitaminic SpA said it agreed to buy United Kingdom-based Peoplesound.com Ltd. The company said the all-share deal is valued at 34 million euros ($28.9 million). Vitaminic said it plans to issue 1.3 million new Vitaminic shares to Peoplesound.com shareholders, equivalent to 19% of Vitaminic's share capital. Peoplesound.com shareholders will be subject to the same lock-up conditions as shareholders who have the majority of Vitaminic's capital. Peoplesound.com's...